Bitcoin News
By Dan Saada
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The structure of the cryptocurrency market is hovering around in the ranges of 3000 through 4000.
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Markets usually bottom over time, and the bottoming structure is moving in the range bound market.
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Bitcoin has been fluctuating in the $3600 through $3750 ranges while being sideways it is trying to break higher.
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The way the trade enters the weekend sets the tone for how it will behave in the week to come.
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The fundamentals of Bitcoin are increasing. However, there are growing concerns about whether the trending bears in the stock market might influence the cryptocurrency industry…
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If Bitcoin should climb above $4000, there will be a surge in the Altcoin market. At the time of reporting the news, Bitcoin was trading at 3688.01 USD.
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In the past week, the price divided below the $3560 support level versus the USD. There was a strong buying interest at the $3,480 and $3,500 support levels.
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The price as well tested the 4-hours, 100 simple moving average at the $3,800 resistance level.
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The 4-hour MACD is currently in the Bullish zone. The 4-hours RSI is above the 50 levels.
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